FREED Secures INR 60 Crore in Series A2 Funding to Expand Debt Relief Platform
FREED, India's first debt relief platform, raised INR 60 crore in a Series A2 funding round led by Aavishkaar Capital. Since 2020, FREED has helped over 20 lakh customers and manages INR 3,200+ crore in debt. The funds will enhance operations and technology to meet growing debt resolution needs.
FREED, India's pioneering debt relief platform, has announced that it has raised INR 60 crore through a Series A2 funding round. This infusion of capital was led by Aavishkaar Capital, alongside existing investors Sorin Investments, Piper Serica, and Sattva Ventures.
Founded in 2020, FREED has provided debt counselling to over 20 lakh customers, managing more than 120,000 active accounts, and overseeing INR 3,200 crore in debt. The latest funding will be utilized to scale operations, expand its geographical footprint, enhance product and underwriting capabilities, and fortify institutional partnerships.
With consumer credit penetration on the rise, founders like Ritesh Srivastava emphasize FREED's commitment to innovative debt resolution solutions. The company is poised at a critical stage in India's financial sector, aiming to offer transparent paths to financial rehabilitation amidst increasing household indebtedness.
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